Skip to main content

Chase Bank Gives HOPE LoanPort $100,000 Grant to Facilitate Loan Mod Efforts

Jan 04, 2011

HOPE LoanPort has announced that Chase Bank has awarded the non-profit a $100,000 grant to help facilitate mortgage loan modifications. Formed in 2009, HOPE LoanPort is a Web-based utility created to improve the execution of loan modifications. The portal is currently being used by homeowners, non-profit counselors, servicers and other organizations involved in the loan modification process. The Chase grant will provide additional support to HOPE LoanPort, which allows U.S. Department of Housing & Urban Development (HUD)-approved housing counselors to collect all of the necessary documents from homeowners, upload the completed package directly to mortgage servicers and track the status of a homeowner's application. Chase's mortgage servicing division has been instrumental in the development of HOPE LoanPort since the early stages. As a charter member, Chase provided a dedicated project manager during the pilot phase and continued guidance for the HOPE LoanPort steering and outreach committees. Currently, 12 major mortgage servicers use HOPE LoanPort and three more are likely to finalize their participation in the next few weeks. Active users of HOPE LoanPort include more than 1,700 housing counselors from 448 organizations in 47 states, the District of Columbia and Puerto Rico. "We are pleased to continue supporting HOPE LoanPort in streamlining the loan modification process," said Kimberly Davis, managing director, global philanthropy. "This Web portal enhances communication between homeowners, housing counselors and mortgage servicers. Our grant will enable HOPE LoanPort to continue to be innovative in helping homeowners in these challenging times." Larry Gilmore, president and chief executive officer of HOPE LoanPort, said: "We are thrilled by Chase's continuing support as we move into the next phase of our evolution. As a non-profit, we know how important these grants are to our future success. We are working diligently, with our partners, each day to provide a top-notch, Web-based, public utility for all parties with a stake in the future of the American housing market." HOPE LoanPort, powered by RxOffice and developed by the HOPE NOW Alliance, is a new Web-based tool that streamlines loan modification applications on behalf of homeowners at-risk of foreclosure, allowing housing counselors to efficiently transmit completed applications to mortgage servicers. HOPE LoanPort is designed to improve the quality of both the application itself and the ability of servicers to make decisions on that application. For more information, please visit www.hopeloanportal.org.
About the author
Published
Jan 04, 2011
About $18.6 Million Severance Payout For First American Ex-CEO Kenneth DeGiorgio

Rather than a brusque exit, high-performer DeGiorgio eligible to catch a soft breeze off into the horizon

Apr 23, 2025
New VantageScore Credit Model Aims To Boost Predictive Performance

Also, company’s pilot program gives nonprofit lenders access to modern credit scoring while helping them maintain sound lending practices

Apr 22, 2025
Mortgage Women Leadership Council Breaks 500-Member Benchmark

Becomes nation’s largest organization for women in the industry

Apr 21, 2025
Tug-Of-War Continues Between President Trump, Fed Chair Powell Over Rate Cuts

President’s April 17 social media post expresses growing impatience with Federal Reserve Board not cutting rates

Apr 18, 2025
Mortgage Insurance Premium Tax Write-Off Back On The Table

Bipartisan bill would restore, expand expired MIP deduction, aiming to ease homeownership costs for millions

Apr 15, 2025
FBI Boston Warns Of Growing Title Fraud

Fraudsters forging documents to sell properties or take out mortgages on them, FBI says

Apr 14, 2025